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We won't ever run out of oil. What will happen is that oil EROEI will drop and cost will increase until other sources of energy are more cost-competitive and oi
by api 13y ago
We won't ever run out of oil. What will happen is that oil EROEI will drop and cost will increase until other sources of energy are more cost-competitive and oil becomes obsolete. (... OR if other sources cannot replace oil, economic collapse and demand destruction until demand equals supply.)
- fulafel 13y ago"Energy" is a little broad, it's already obsolete for non portable applications. Oil will still be in demand when eroei goes below 1, unless there's a cheaper compatible non fossil replacement.
- sliverstorm 13y agoObsolete for stationary applications? Not true at all, especially if we are talking about "fossil fuels" rather than simply "oil". Natural gas is a huge portion of the USA's electricity supply.